As US stocks (^DJI, ^GSPC, ^IXIC) pull back, Freedom Capital Markets chief global strategist Jay Woods tells Morning Brief co-hosts Seana Smith and Brad Smith he believes the US is in the midst of a market correction. “I think we peaked in late December,” Woods explains. “What I look at is the overall breadth of the market, and the breadth has been very negative.” The strategist elaborates on his outlook for the 2025 economy: “Equities are going to get jittery, and we’re going to sell off a little bit. This is a normal correction in a secular bull market.” He continues, “Nothing fundamentally has changed, but we’re worried about taxes and the implications it has on inflation. We have a new administration coming in; we’re not certain how that’s going to play out.” Despite the uncertainty, Woods clarifies that what’s happening now is not unprecedented, noting that “10% corrections happen, on average, every 18 months” and the economy is simply in the midst of that cycle. “I’m not looking to make headlines by saying we’re in the midst of a correction,” Woods says. “People see that, and they get a little spooked. I think it’s a buying opportunity.”
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